Who owns Lukoil? The Russian oil company PJSC "Lukoil"

Many Russian citizens would like to know who owns Lukoil, one of the largest private oil companies in our country. The recently held international economic forum in St. Petersburg shed light on this mystery. The head and co-owner of PJSC made a statement. He told about who owns Lukoil. Vagit Alekperov previously reported that 50% of the company is owned by foreign investors, he personally owns only 20%, and another 10% of shares are held by the vice-president, Leonid Fedun.

How it was

At a summit on technological innovation and changes in the global energy market, President Vladimir Putin confidently stated that companies in which foreign investors participate are producing 25% of all Russian oil. He stressed that we do not have a single major company without foreign participation. Even the state-owned Rosneft is a joint stock company. This part of the speech by V. Putin was published by the mass media.

After this statement, the President of the Russian Federation directly addressed Vagit Alekperov with a specific question: "To whom does Lukoil belong in fact? How many foreigners do you have about?" The head of the oil company named the figure - 50%. V. Alekperov owns 20% of the shares. But it was not always so.

Earlier, the largest foreign shareholder of Lukoil was the American company ConocoPhillips. In the spring of 2010, she sold her package (just about 20%). Information about the buyer was not disclosed. It is only known that the sale process was completely completed in early 2011.

And now we have to figure out who owns Lukoil at the moment. On the Internet, there are still rumors that ConocoPhillips is still a strategic partner of this oil company. She allegedly owns a blocking stake, and her representatives are on the board of directors and participate in joint projects. However, it is not.

Successes

The international vertically integrated company is the largest not only in our country, but also in the whole world. It occupies the top positions in hydrocarbon reserves. Now a little specifics. Reserves of oil in the fields belonging to the company are the largest in the world. All experts know this.

The oil company Lukoil extracts hydrocarbons not only in Russia but also far beyond its borders, where the company owns numerous oil producing and refining plants in both Western Europe and the East.Therefore, it is not easy to determine who owns Lukoil " actually.

The company sells its products through its retail networks in more than 20 countries. In any case, in the United States refueling Lukoil is the first in terms of the number of gas stations among other manufacturers. The shares of this company are traded not only on Russian, but also on foreign stock exchanges, are among the so-called "blue chips" delivered from the Russian stock market. Where is the main office of the company "Lukoil"? Address (legal): Moscow, Sretensky Boulevard, house number 11.

Structure

Competitiveness of the company directly depends on the effectiveness of corporate governance. And it is provided by not one president of PJSC "Lukoil". It is impossible to develop without a well-established management structure that would determine the relationship between shareholders, the executive body and the Board of Directors. Only in this case, investors will be assured of the reasonableness of the funds spent by the management. Correctly built management structure effectively contributes to the company's capitalization growth.

In the system of PJSC "Lukoil" the management created reliable and trustworthy relations between the community of shareholders and investors. Therefore, their cooperation is strong, effective and long. The investment attractiveness of the company is increasing year by year.

The principles of interaction between shareholders and the company itself are as transparent as possible. What does it mean? Shareholders of PJSC "Lukoil" can trace how general management is conducted, as well as receive up-to-date information on financial transactions.

Board of Directors

Who is at the head of the corporate governance system? This is the Board of Directors, which manages in the interests of shareholders and investors. It consists of independent directors. Such an approach helps to form an objective opinion of the Council on any of the issues discussed. These factors also strengthen the confidence of shareholders and investors in PJSC "Lukoil".

Each division of the general structure has its own director. Each of them was elected to the Board at the general meeting of shareholders in June 2017. They are now determining the priorities of the oil company, are developing its strategic, medium-term and annual planning, and will also sum up the results of all work. How many directors are there in the Council? Only eleven people, including three foreigners (two of them are engaged in personnel policy and remuneration, and one - investments).

Persons

The company's president is Vagit Yusufovich Alekperov, who is an executive member of the Board of Directors and chairman of the company's board. About this person a lot of writing in the media. He has been with the Council since 1993.

Valery Isaakovich Greifer is the Chairman of the Board of Directors. This is not his only position. V. Grayfer also presides in the Board of Directors of JSC RITEK. In PJSC "Lukoil" he was elected to the Board of Directors in 1996.

His deputy is Ravil Ulfatovich Maganov, who is the executive member of the board, the investment and strategy committee, and also the board member of the company. He was the first executive vice president of exploration and production. In the Board of Directors since 1993.

Blazheev Viktor Vladimirovich is a member of the Board of Directors, Chairman of the Audit Committee and member of the Personnel Committee. In combination he works as rector of Moscow State Law University named after Kutafin (MSHA). In the Board of Directors since 2009.

It is impossible not to single out another person. This is Igor Sergeyevich Ivanov. He is a member of the Board of Directors, chairman of the Committee on Investments and Strategy, he sits on the audit committee. In addition, Ivanov chairs the non-profit partnership of the INF. He has been in the Board of Directors since 2009. The company's management considers him a valuable employee.

Other representatives of the Board of Directors

Roger Mannigs is a member of the British-Russian Chamber of Commerce. He is on the Board of Directors, presides over the Human Resources Committee. He is also an independent member of the Board of Directors of Sistema JSFC, the largest public diversified financial company in Russia and the CIS, engaged in telecommunications, insurance, finance, media business, retail, oil, radio electronics, and machine building. This is not a complete list. In the Board of Directors of PJSC "Lukoil" R. Mannigs is from 2015.

We represent one more foreign specialist - an American Toby Tristter Gati. She came to the Board of Directors one year later than Mannigs. Now the woman is on the investment and strategy committee, incidentally being the president of TTG Global LLC. Previously, she was US Deputy Secretary of State for Research and Intelligence, and also an advisor to Bill Clinton (when he was president) for Russia.

Toby Tristter Gati is not going to completely quit politics. But while she is satisfied with the position of senior adviser to the most profitable lobby group in the world - Akin Gump Strauss Hauer & Feld LLP. She adores Brzezinski. Probably, to compose an opinion on the composition of the management of NK Lukoil, this information should be taken into account, since the worldview of its participants directly affects the business policy of our country.

Human Resources Committee

Richard Matzke in the Board of Directors of PJSC "Lukoil" for the second time: first from 2002 to 2009, then in 2011, re-elected. The committee deals with personnel and remuneration. He also serves on the advisory board of directors of the American-Russian Chamber of Commerce. That's not all. Richard Matzke also meets in the third Board of Directors - at PHI, Inc. (Project Harmony Inc.), and the Board of Directors of the well-known Chinese company PetroChina Company Limited, specializing in oil exploration, production and refining.

Audit and development strategies

Ivan Pictet is a successful Swiss banker. In the Board of Directors of Lukoil he has been working since 2012. Works on the audit committee. In addition, he chairs the Board of Directors of Symbiotics, as well as PSA International SA. In addition, Ivan Pictet is the president of two foundations - Fondation pour Geneve and Fondation Pictet pour le development. He is a member of the European Advisory Council of the AEA European Advisory Board. We told about the foreigners.

Two more members of the Board of Directors are Russians. This is Leonid Arnoldovich Fedun, who is on the investment and strategy committee, and also holds the post of vice president of strategic development of the company from 2013. And the second person is Lyubov Nikolaevna Khoba. In addition to being a member of the board of directors, he is the chief accountant of PJSC Lukoil and his vice-president.

About committees

In August 2003, committees were established under the Board of Directors. Each of them had its own goals and objectives. Igor Sergeevich Ivanov - Chairman of the Committee on Investments and Strategy. Together with him work Toby Tristter Gati, Ravil Ulfatovich Maganov and Leonid Arnoldovich Fedun. Viktor Vladimirovich Blazheev chairs the audit committee. And his colleagues are Igor Sergeyevich Ivanov and Ivan Pictet. The Human Resources and Remuneration Committee is headed by Roger Manning. With him solve the questions Viktor Vladimirovich Blazheev and Richard Matske.

Natalia Igorevna Podolskaya, corporate secretary of PJSC "Lukoil", coordinates the actions of the company's management. She is also responsible for communications and interaction between the Board of Directors, shareholders and executive management. Under the supervision of the Secretary, the officials and the management of the company are guaranteed compliance with all procedural requirements ensuring the implementation of the interests and rights of each shareholder. The Corporate Secretary is appointed directly by Vagit Yusufovich Alekperov.

Single share

In 1995, a number of other companies joined the structure of the joint stock company: the Research and Development Institute Rostovneftekhimproekt, Volgogradnefteproduktavtomatika and six other oil companies from Nizhnevolzhsk, Perm, Kaliningrad and Astrakhan. This was both good and difficult for Lukoil: five divisions of the company had their own shares, which were independently traded on the stock market. Plus shares of the main holding. Exchange traders preferred some papers, others did not. And processing plants, unlike mining, did not attract traders to business. Therefore, they had almost no deals.

When one company has so many different securities, interaction with investors and their search is very difficult. The move to a single share was a good idea. At that time, no Russian oil company had yet decided on such a transformation. "Lukoil" was the first. That's why this process was difficult and slow. The whole transition took two years.

Blue chips

The term "blue chip" came to the stock markets from casino fans. Where did this name come from? The fact is that chips of this color in the game are more expensive than others. Now this expression is applied to securities or shares of the most reliable, liquid and large companies. These firms can boast stable indicators of income and dividends. When the united stock of Lukoil appeared on the stock market, it immediately received the highest interest from investors.

The state received an opportunity to advantageously sell the shares that belonged to him. And Lukoil registered with the Securities and Exchange Commission (SEC) an application for issuing first-level receipts on deposits that were intended for sale in the US on the stock market. The Bank of New York agreed to act as depositary.

Long way

In 1996, the company's depositary notes entered the listings of the Berlin and London stock exchanges. At the same time, joint ventures were set up by LUKARCO, LUKAgip NV (Italy). Lukoil began to form its own tanker fleet, designed to operate in the Arctic Ocean. By 1999, it was completely put into operation. This was a long time awaited by Russian specialists.

In 1997, there was a huge upset in the size of two billion tons of Iraqi oil and a very expensive contract torn due to the Kuwaiti conflict. That's not all. In 1998 there was a crisis with a rapid drop in the price of oil around the world. The company's budget was revised. Everything that was low-profit stopped. But shares in domestic and foreign markets still fell, and more than 5 times.

Nevertheless, the company continued to acquire. On the advice of Dresdner Kleinwort Benson and AB IBG "NIKoil", financiers, the company "KomiTEK" was bought, then immediately one hundred percent of shares of "Nobel-Oil", then 50% of shares of "KomiArcticOil" (under the agreement with British Gas North Sea Holdings Limited) and so on - up to the present moment. Is it possible to add that in 2004 Lukoil-USA managed to buy out 779 of Lukoil's refueling from ConocoPhilips in Pennsylvania and New Jersey. Rather, before the acquisition, all gas stations belonged to the Mobil brand, but were quickly transferred to a new brand.

So who owns Lukoil?

Many Russians want to know this. However, the president of PJSC "Lukoil" always answered evasively this question. Alekperov said that there is no single controlling shareholder. A package belonging to managers, he is not ready to discuss. This lasted a long time, until the beginning of 2017.

Now Vagit Yusufovich Alekperov acknowledged that the main "power" of the company is management. Although such a goal was not voiced, it was already possible to collect a controlling stake.